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news article on production of oil and natural gas in the Permian Basin of western Texas and New Mexico noted the following two facts: i.
news article on production of oil and natural gas in the Permian Basin of western Texas and New Mexico noted the following two facts: i. "Shale drillers in the Permian Basin are producing vast amounts of gas as a byproduct of prospecting for oil." ii. "Gas prices in parts of the prolific region hovered near zero last month and some trades went negative, to as low as a negative 25 cents per million British thermal units...." Source: Rebecca Elliott, "In Booming Oilfield, Natural Gas Can Be Free," Wall Street Journal, December 27, 2018. a. What does it mean for a price to be negative? A negative 25-cent price means that A. the seller has to pay the buyer 25 cents so that the buyer agrees to receive the product. B. the seller is unable to transact in the market at all. C. the product is worthless and should not be continued to be produced under any circumstances. D. There is no such thing as a negative pricelong dashthe article is using incorrect language
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